CBOE recently published its August fines and sanctions - one firm, two individuals.  Fines ranged from $25K to $50K. 

1.      Floor Broker/Clearing Member to Pay $50K over Position Limits.
2,3.  Market Makers to Pay $50K or $25K over M-T-M's and Inaccurate Quotes.

    1. Floor Broker/Clearing Member to Pay $50K over Position Limits.  From September through December 2009, Merrill Lynch Professional Clearing Corp., a Floor Broker and Clearing Member, person, allegedly committed the following violations:

• Merrill exceeded the position limit in the Citi option class, on numerous days, for one customer account.
• Merrill exceeded the position limit in the Medivation option class, on 12/3/09, for one customer account.
• Merrill failed to promptly report the option position maintained by its customer in excess of the position limit in the above situations.
  

    2 and 3. Market Makers to Pay $50K or $25K over M-T-M's and Inaccurate Quotes.   Two individuals - one over an 8-month period, another over a 13-day period - allegedly committed the following violations:

• For purposes of calculating Reg T margin and 15c3-1 net capital requirements, each M-M “marked-to-the-market” his options based upon the midpoint of the market that was defined by the Exchange’s BBO.
• Each caused market quotations in various VIX or VIX/VQX option series to be unduly changed by making the last reported bids and/or offers that did not reflect the true state of the market of those series.  As a result, the net liquidating equity in each M-M's account was increased.